Shares in Thomas Cook are ailing today amid uncertainty that its troubled German parent company will receive state aid to prop it up.
Investors in the UK-listed travel group worry that without state intervention Arcandor could be forced to sell its 52.8% stake.
That possibility has been weighing on the share price in recent months.
Ministers in Germany said today that they expected Arcandor's major shareholders to help it out of trouble and remained tight-lipped about the possibility of the company getting any government help.
Arcandor, which also owns the home shopping business Primondo and the Karstadt department stores, applied for state aid last night, the German government has confirmed.
Thomas Cook shares were the worst performing in the FTSE 100 this morning, down almost 3% at 218.75p.
